Social media stocks dip amid GameStop-Reddit frenzy. Why two top names could fall further

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Social media stocks dip amid GameStop-Reddit frenzy. Why two top names could fall further (via TradingNation)

"I'd probably be fading the stock here in the short term. I think you'll find a better entry point," Johnson said, chalking the stock's recent gains up to a "relief rally."

"This is another one of these social media stocks that's sort of struggling at its 50[-day moving average],"Johnson said, pointing to its chart."If it starts breaking below its 200-day moving average, which is around 252, you don't have a lot of support until about 223," he said.

"To me, Twitter is probably the single best long-term buy when it comes to social media platforms because of the quality of its content and the quality of its product," he said. "The Facebook story ... is much weaker."

 

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